Analysts Set Quidel Corp. (QDEL) PT at $20.38
Quidel Corp. (NASDAQ:QDEL) has received a consensus recommendation of “Hold” from the eight research firms that are presently covering the company. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $20.38.
Several equities research analysts have recently weighed in on QDEL shares. Zacks Investment Research upgraded Quidel Corp. from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a research report on Friday, July 29th. Canaccord Genuity set a $22.00 price target on Quidel Corp. and gave the company a “hold” rating in a research report on Thursday, October 27th.
Quidel Corp. (NASDAQ:QDEL) opened at 22.26 on Thursday. The company’s market cap is $726.63 million. Quidel Corp. has a one year low of $13.21 and a one year high of $23.94. The company has a 50-day moving average of $21.01 and a 200-day moving average of $19.91.
Quidel Corp. (NASDAQ:QDEL) last announced its quarterly earnings results on Wednesday, October 26th. The company reported $0.10 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.12. Quidel Corp. had a negative return on equity of 0.81% and a negative net margin of 6.40%. The firm had revenue of $49.30 million for the quarter, compared to analysts’ expectations of $50.88 million. During the same period in the prior year, the business posted ($0.05) earnings per share. The company’s revenue was up 5.3% on a year-over-year basis. Equities research analysts expect that Quidel Corp. will post ($0.16) EPS for the current fiscal year.
In other Quidel Corp. news, CEO Douglas C. Bryant sold 2,832 shares of the company’s stock in a transaction that occurred on Tuesday, August 30th. The stock was sold at an average price of $22.00, for a total value of $62,304.00. Following the completion of the sale, the chief executive officer now owns 276,843 shares of the company’s stock, valued at $6,090,546. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Douglas C. Bryant sold 69,168 shares of the company’s stock in a transaction that occurred on Friday, September 30th. The stock was sold at an average price of $21.76, for a total value of $1,505,095.68. Following the completion of the sale, the chief executive officer now directly owns 291,121 shares of the company’s stock, valued at approximately $6,334,792.96. The disclosure for this sale can be found here. Insiders own 23.40% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Wells Fargo & Company MN raised its stake in shares of Quidel Corp. by 26.1% in the third quarter. Wells Fargo & Company MN now owns 13,544 shares of the company’s stock valued at $299,000 after buying an additional 2,800 shares in the last quarter. Bank of Montreal Can purchased a new stake in shares of Quidel Corp. during the second quarter valued at about $244,000. BlackRock Advisors LLC raised its stake in shares of Quidel Corp. by 1.5% in the second quarter. BlackRock Advisors LLC now owns 14,211 shares of the company’s stock valued at $254,000 after buying an additional 204 shares in the last quarter. Capital Fund Management S.A. purchased a new stake in shares of Quidel Corp. during the third quarter valued at about $384,000. Finally, Obermeyer Wood Investment Counsel Lllp purchased a new stake in shares of Quidel Corp. during the third quarter valued at about $398,000. 93.20% of the stock is owned by institutional investors and hedge funds.
Quidel Corp. Company Profile
Quidel Corporation is engaged in the development, manufacturing and marketing of diagnostic testing solutions. The Company’s diagnostic testing solutions primarily include applications in infectious diseases, women’s health and gastrointestinal diseases. It sells its products directly to end users and distributors, in each case, for professional use in physician offices, hospitals, clinical laboratories, reference laboratories, universities, retail clinics and wellness screening centers.
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